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SSS - PCLN and SOHU Short-Sale Targets

Published:

11 Aug 2011 14:19 ET

The Market Direction Model has switched to a cash signal, which is not a buy signal. PCLN, which was discussed last Friday as a potential late-stage failed-base (LSFB) short-sale set-up, remains below its 50-day moving average. We would use today's dip as an opportunity to take short-term profits, looking to re-short on any rally up into the 50-dma or 20-dma, depending on the strength of any general market rally that would likely carry PCLN up with it.

SOHU hit its first downside target several days ago as it under cut its early July low, where short-term profits could have been taken per our prior discussion. The stock is now rallying uip into and above the 50-dma, and should be watched for a potential new entry point should this market rally fail.